Synovus Financial Corp Has $522,000 Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

Synovus Financial Corp lowered its holdings in Delta Air Lines, Inc. (NYSE:DAL) by 22.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,277 shares of the transportation company’s stock after selling 2,992 shares during the period. Synovus Financial Corp’s holdings in Delta Air Lines were worth $522,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DAL. Future Financial Wealth Managment LLC acquired a new stake in Delta Air Lines in the 3rd quarter valued at approximately $25,000. Kimelman & Baird LLC acquired a new stake in Delta Air Lines in the 2nd quarter valued at approximately $31,000. Ashton Thomas Securities LLC acquired a new stake in Delta Air Lines in the 3rd quarter valued at approximately $31,000. Strategic Financial Concepts LLC acquired a new stake in Delta Air Lines in the 2nd quarter valued at approximately $36,000. Finally, Unique Wealth Strategies LLC acquired a new stake in Delta Air Lines in the 2nd quarter valued at approximately $40,000. Institutional investors and hedge funds own 69.93% of the company’s stock.

Insiders Place Their Bets

In other Delta Air Lines news, EVP Joanne D. Smith sold 3,431 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.46, for a total value of $173,128.26. Following the transaction, the executive vice president now directly owns 108,990 shares in the company, valued at $5,499,635.40. The trade was a 3.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William C. Carroll sold 21,530 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $60.62, for a total transaction of $1,305,148.60. Following the completion of the transaction, the senior vice president now owns 19,756 shares in the company, valued at approximately $1,197,608.72. This represents a 52.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,240 shares of company stock valued at $8,044,893. 0.96% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DAL shares. Barclays lifted their price objective on Delta Air Lines from $60.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. BNP Paribas raised Delta Air Lines to a “strong-buy” rating in a report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft lifted their price objective on Delta Air Lines from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Sanford C. Bernstein lifted their price objective on Delta Air Lines from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $75.83.

Delta Air Lines Stock Performance

Shares of DAL stock opened at $60.80 on Wednesday. The company’s fifty day simple moving average is $59.97 and its 200-day simple moving average is $50.45. The company has a quick ratio of 0.34, a current ratio of 0.39 and a debt-to-equity ratio of 1.05. The firm has a market cap of $39.23 billion, a PE ratio of 8.44, a P/E/G ratio of 1.21 and a beta of 1.35. Delta Air Lines, Inc. has a 12 month low of $36.34 and a 12 month high of $67.50.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). Delta Air Lines had a return on equity of 29.93% and a net margin of 7.71%. The business had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $14.65 billion. During the same period in the prior year, the firm earned $2.03 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts expect that Delta Air Lines, Inc. will post 6.08 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, October 10th. Delta Air Lines’s dividend payout ratio (DPR) is currently 8.33%.

About Delta Air Lines

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.